What Is Einsteinium?

You may have noticed a new coin, Einsteinium, has crept its way into the market top 50 out of the depths of CoinMarketCap’s lower rankings. Actually, it more accurately lept up to its new spot, jumping from a ~$0.80 support to over $2.00 in a matter of days.

Taking it’s cue from the synthetic element of the same name, Einsteinium is a cryptocurrency designed to fund scientific, technological, and philanthropic projects. The Einsteinium coin, fittingly abbreviated EMC2, is the source of this funding and circulates using a proof of work algorithm similar to Bitcoin’s own. So in practice, EMC2 functions as if someone took Bitcoin and combined it with a charitable fund.

Einsteinium began back in 2014, but it didn’t see much action until Spring of 2017. On March 1st, the Einsteinium Foundation officially launched, and by April, it officially registered as a Non-Profit Organization in Montreal, Canada, becoming the first research-focused NPO in the cryptosphere.

The Einsteinium Foundation is the Einsteinium coin’s organizational counterpart, a hub for the project’s charitable and research funds. Under its proof of work mining system, the foundation receives 2.5% of every block reward. Of this yield, 0.5% goes towards faucets, marketing, and donations, while the other 2% goes towards funding scientific research.

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You might be wondering how the Einsteinium Foundation chooses which projects get funded and how much funding they receive. Well, to understand this, you’ll need to know how epochs work within EMC2’s proof of work consensus.

What’s an Epoch?

An epoch is the time it takes miners to build 36,000 blocks onto Einsteinium’s public ledger, or approximately 25 days.

After an epoch is completed, the proceeds from the Einsteinium Foundation’s block rewards from that epoch goes on to fund research or projects in scientific, technological, or blockchain industries. Members of the Einsteinium community are asked to vote on which project they believe demonstrates the most potential and is most worthy of funding.

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There will be a total of 730 epochs within which miners can receive block rewards. Under Einsteinium’s model, the yield of block rewards scales downward as the network graduates to each new epoch, so as time goes on, the number of coins that each reward offers will decrease. In the first two epochs, for example, block rewards were 1,024 EMC2. By the final epoch, the block reward will only be a single Einsteinium token.

You may ask, why would anyone mine something that offers fewer rewards as the blockchain expands?

Two Words: Wormhole Eventsemcblockrewards

The Wormhole Event is Einsteinium’s unique contribution to the proof of work model. The phenomenon occurs at random within each epoch and lasts for 180 blocks, during which time a block reward of 2,973 EMC2 replaces that epoch’s standard reward. This lottery system is supposed to keep mining attractive to the blockchain’s mining community, and it’s also meant to compensate for the decrease in block rewards with each successive epoch.

In fact, the Einsteinium team believes it will make mining even more profitable in the future. The more the EMC2 coin increases in value, the more lucrative Wormhole Events will become. Seeing as block rewards for these events are constant, miners will be incentivized to mine for Wormhole occurrences alone, as they will appreciate in value alongside the currency itself.

Getting Started With Einsteinium

The defining characteristic of Einsteinium is its ongoing commitment to research and charitable missions. Einsteinium the coin is connected to the Einsteinium Foundation.

Einsteinium coin is a Bitcoin-like currency with a philanthropic objective of funding scientific research, cutting edge IT and crypto currency projects. Our community members vote on which valuable projects receive funding awards.

"Scientific research it is [sic] a long-term investment in our future, and the future of our planet," the foundation claims. "Funding around the world for the ‘big ideas’ has fallen dramatically in recent years. There are no restrictions on which projects are eligible but they must have science involved working to push our understanding forward, and strive to build us a better, safer and more stable future.

"To reach a broader audience than just the mining community, it is vital that Einsteinium is openly traded on exchanges and used for purchasing goods and services to sustain research," the foundation writes. "Einsteinium should be easily available and accessible to as many people as possible to grow awareness and cultivate opportunities."

The Einsteinium Foundation (EMC2) is embarking on a truly ambitious project that will likely change how cryptocurrency (CC) is viewed outside of the CC universe.

The Einsteinium Foundation became an official Non-Profit Organization on April 7th, registered in Montreal with NPO corporation number 882658-4. As being the first non-profit dedicated to scientific research to be registered in the world of cryptocurrency, the Einsteinium Foundation hopes to secure grants and build long lasting relationships with other NPOs worldwide, in order to support future ground breaking science projects of all kinds.

EMC2 automatically donates 2% of every block mined to the Foundation Fund to be used for donations. The mining of Einsteinium is divided into Epochs: each Epoch mines 36000 blocks of coins and is targeted to last approximately 25 days. Every 25 days, at the end of each Epoch, a new ground breaking scientific cause is selected to receive Einsteinium Foundation funding.

Similar to Bitcoin, Einsteinium is a distributed peer-2-peer digital currency released without any premium. EMC2 implements the primary innovation of Wormhole Mechanics to reward long term miners. Each Wormhole Event occurs randomly during each epoch and is 180 blocks long, with a reward of 2970 EMC2 per block.

The EMC2 coin is released by the Einsteinium Foundation. The Einsteinium Foundation exists to raise money to help fund cutting edge scientific projects. They launched Einsteinium, March 1st, to help them realize their goal of funding cutting edge science.

Einsteinium coin uses a proof of work script algorithm that will have a total of 299 million coins. 2.5% of each block will go to the Einsteinium Foundation with 2% to be given to science projects and .5% going towards faucets, donations, and marketing costs.

There are different ways of viewing The Havekes Project Campaign, the first way is from the crowd funding community (not associated with cryptocurrency), a second way is through the cryptocurrency industry, and a third way of viewing this campaign is by a science research audience.

Einsteinium Foundation is proud to announce the commencement of The Havekes Project Fundraising start on Indiegogo on 1st January 2015 and though any cryptocurrency you wish to use.

It's an establishment based framework that is intended to enable individuals with subsidizing for logical to examine. Einsteinium will be a group subsidizing stage that is endeavoring to be a basic piece of the science group. The biological community that has been produced is the basic perfect behind the science explore they are hoping to fulfill.

Research isn't all that matters anyway, they are hoping to enhance training and web innovation improvements. They need to take it to another level from what they've expressed. They trust that training is the way to progress with any development. What's more, they are devoted to spreading their convictions around the globe.

They need to make a framework that depends on strong, foundational objectives and spread their insight over the globe. They are constructing the greater part of their product with respect to blockchain innovation, which is one of the biggest developing specialists on the planet.

The organization is likewise in light of open source innovation. What's more, they are as of now a piece of the Bitcoin people group and additionally being totally devoted to enhancing the whole framework and establishment of the stages being used.

It's another organization, so you unquestionably must be cautious when contributing. Be that as it may, that doesn't mean they are an organization that can't be trusted. They're only an organization that is new and ideally will have the capacity to convey as they guaranteed.

How To Get An Einsteinium Wallet?

einsteinium coin

On the following links you can download our new, updated wallets (v0.13.48.0 - excalibur) for windows(x64), mac and linux:

For 32-bit version of windows download this wallet.

Make sure you have a backup of your existing wallet before starting the new one.

To store, send and recieve emc2 on android device download Coinomi wallet here:

When downloading the Wallets, you can verify the authenticity with http://onlinemd5.com/

For Windows: 454ED8E95D5D6EB92A3DD00C055C664A

For Windows x64: CC978D2F2ACE355BF083B228ED4D2914

For macOS wallet: 73B9442D5C3C0540B54646F0188AEEFD

For faster synchronization use snapshot of EMC2 blockchain: Snapshot

einsteinium coin

Einsteinium Resources

The Cryptocurrency - Einsteinium like other coins is embarking in an ambitious project that will make cryptocurrencies viewed outside of the cryptocurrency world as something beneficial for everyday use and projects.

The specifications - Einsteinium runs on the Proof-Of-Work scrypt algorithm. The total amount coins that will be in circulation after the mining is 299 million coins (after 730 Epochs).

The wormhole - Each Wormhole Event occurs randomly during each epoch and last 180 blocks, the reward of those blocks are 2973 EMC2 per block.

How To Buy Einsteinium?

If you want to buy EMC2, it’d be best to get some Bitcoin and head over to either Bittrex, Poloniex, or Cryptopia. It also trades for Litecoin on Cryptopia, but the volume for this trading pairs has only been 0.01% in the last 24 hours. Over the last 24 hours, the majority of its Bitcoin volume has run through Bittrex at 82.98%, while Poloniex comes in second at 16.52%.

Einsteinium’s website also lists Upbit as a possible exchange, but as of this writing, CoinMarketCap has no record of this exchange.

einsteinium coin

What Is Einsteinium Mining?

Here you can find a list of known EMC2 mining pools. If you need any help please contact us at [email protected]

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Latest Einsteinium News

HARD FORK SUCCESSFUL

einsteinium coin

Max supply is reduced from 300M to 245M, with current 216M in circulation now.

EMC2 blockchain is now much more secure, stable and ready for serious investments.